nCino, Inc. (NASDAQ:NCNO) Holdings Raised by Capital International Investors

Capital International Investors boosted its stake in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 57.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,691,204 shares of the company's stock after purchasing an additional 1,710,893 shares during the quarter. Capital International Investors owned approximately 4.05% of nCino worth $157,531,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NCNO. HighTower Advisors LLC boosted its stake in nCino by 11.4% during the 3rd quarter. HighTower Advisors LLC now owns 16,906 shares of the company's stock worth $531,000 after purchasing an additional 1,724 shares during the period. Barclays PLC increased its holdings in shares of nCino by 22.2% in the 3rd quarter. Barclays PLC now owns 73,014 shares of the company's stock valued at $2,306,000 after purchasing an additional 13,252 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of nCino by 26.1% in the third quarter. Geode Capital Management LLC now owns 1,517,512 shares of the company's stock valued at $47,951,000 after purchasing an additional 313,637 shares during the period. Sanctuary Advisors LLC acquired a new position in nCino during the third quarter worth $189,000. Finally, Synovus Financial Corp acquired a new stake in nCino in the third quarter valued at $656,000. Institutional investors and hedge funds own 94.76% of the company's stock.

Wall Street Analyst Weigh In

NCNO has been the subject of a number of recent analyst reports. Stephens reaffirmed an "equal weight" rating and issued a $38.00 price objective on shares of nCino in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their price target on shares of nCino from $40.00 to $28.00 and set an "outperform" rating for the company in a research report on Thursday, April 3rd. KeyCorp reiterated a "sector weight" rating on shares of nCino in a report on Monday, February 3rd. Needham & Company LLC cut their target price on nCino from $45.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, UBS Group set a $40.00 price objective on nCino in a research note on Friday, March 28th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $30.40.

Insider Activity

In related news, VP Jeanette Sellers sold 2,501 shares of nCino stock in a transaction on Friday, April 4th. The stock was sold at an average price of $21.51, for a total value of $53,796.51. Following the transaction, the vice president now directly owns 19,099 shares in the company, valued at $410,819.49. The trade was a 11.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sean Desmond sold 2,301 shares of the company's stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $22.31, for a total value of $51,335.31. Following the sale, the chief executive officer now directly owns 296,296 shares of the company's stock, valued at approximately $6,610,363.76. This represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,012 shares of company stock worth $2,694,676. Corporate insiders own 28.40% of the company's stock.

nCino Stock Performance

NCNO traded down $0.04 during trading hours on Friday, hitting $23.15. The company's stock had a trading volume of 951,273 shares, compared to its average volume of 1,392,504. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $43.20. The company has a 50-day simple moving average of $27.30 and a 200 day simple moving average of $33.15. The firm has a market capitalization of $2.70 billion, a PE ratio of -136.12, a PEG ratio of 5.77 and a beta of 0.69.

nCino (NASDAQ:NCNO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.06). nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The company had revenue of $141.37 million during the quarter, compared to analyst estimates of $140.81 million. During the same period in the previous year, the company earned $0.21 EPS. The business's revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, sell-side analysts expect that nCino, Inc. will post 0.12 EPS for the current year.

nCino announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 1st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

About nCino

nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.